Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    121 E Mitchell Street Gaylord, MI 49735

    View on Map
    Claim this Listing
    For Sale
    $249,900

    COMMERCIAL - Gaylord, MI

    Type:Office
    Property size:
    1,904 SF
    Lot size:
    0.43 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    125
    Last Refresh:
    Apr 14 at 4:06 pm

    Property Features for 121 E Mitchell Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    C-2
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    101-034-000-145-01
    Size
    1,904 SF
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Description
    BEG 150FT E OF THE INTERSECTION OF N CENTER & MITCHELL; TH E 114FT, N 165.87FT, W 114FT, S TO POB. SEC 34 T31N R3W. NOW THE CITY OF GAYLORD

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Building materials
    Brick Veneer

    We can help!

    Listing Contact
    Ryan Wojan
    Ryan Wojan

    Listing agent Ryan Wojan License #6506047353

    Listing office smith realty GROUP 1349 S Otsego Ave., Gaylord, MI

    Listing date Dec 10, 2025

    MLS# 201838244

    Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Gaylord Office/Retail Building

    This commercial building is located in downtown Gaylord and is suitable for office or retail use. The building is in good condition and features a spacious conference room, six offices, and two bathrooms. The property includes a large lot with ample parking and room for expansion. The lot size is 0.43 acres. The building has 1904 square feet of space. The zoning is C-2, which allows for a variety of business purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farm Bureau Insurance Insurance Agency Adam Korson - Farm ... Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gaylord
    County
    Otsego
    State
    Michigan
    Longitude
    -84.672924
    Latitude
    45.029579

    Nearby Similar for Sale

    • $459,000
      1,756 SF

      Gaylord Retail Space on M-32

      Prime retail location on highly trafficked M-32 in Gaylord.
      719 W Main Street, Gaylord, MI 49735
      View Details
    • $605,000
      9,460 SF

      Flex, Storage Investment Opportunity

      Two buildings with flex space, warehouse, and self-storage units.
      3707 S Old 27, Gaylord, MI 49735
      View Details
    • $249,999
      4,122 SF

      Restaurant/Bar Opportunity Near Big Lake

      East Gaylord restaurant/bar with ample space and prime location.
      1070 Big Lake Road, Gaylord, MI 49735
      View Details
    • $749,900
      8,000 SF

      Climate-Controlled Storage Investment Opportunity

      Turn-key, 72-unit storage facility with growth potential in Gaylord.
      1681 S Otsego Avenue, Gaylord, MI 49735
      View Details
    • $199,900
      1,734 SF

      Gaylord Commercial Building For Sale

      Commercial building in Gaylord, near hospital and Amazon center.
      611 N Center Avenue, Gaylord, MI 49735
      View Details
    • $720,000
      3,704 SF

      Equipped Auto Shop with Expansion

      Well-established auto shop with expansion potential in Gaylord, Michigan.
      936 N Otsego Lake Drive, Gaylord, MI 49735
      View Details
    • $469,900
      5,088 SF

      Gaylord Commercial Building For Sale

      5,000+ sq ft commercial building with multiple office spaces.
      10591 Vindale Court, Gaylord, MI 49735
      View Details
    • $199,000
      960 SF

      Versatile Office/Retail Space For Sale

      High-visibility commercial space with refreshed interior in high-traffic area.
      146 N Center Avenue, Gaylord, MI 49735
      View Details
    • $239,900
      2,262 SF

      Downtown Gaylord Retail Space

      High-traffic corner lot retail space in downtown Gaylord.
      201 E Main Street, Gaylord, MI 49735
      View Details
    • $299,000
      3,750 SF

      Commercial Building Near I-75

      2800 SF building on 1.26 acres near I-75.
      2946 S Old US Hwy 27, Gaylord, MI 49735
      View Details
    • $255,000

      Commercial Space in Downtown Gaylord

      Mixed-use property with office space, apartment, and garage.
      1412 S Otsego Avenue, Gaylord, MI 49735
      View Details
    • $289,000

      Gaylord Commercial Opportunity For Sale

      Fourplex and office building with development potential on South Otsego.
      2258 S Otsego Avenue, Gaylord, MI 49735
      View Details

    FAQs

    What type of property is this?
    Office building - Turn-key office/retail building in downtown Gaylord with ample parking.
    Where is this office building located?
    The property is located at 121 E Mitchell Street Gaylord, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Turn‑key office/retail building in downtown Gaylord; Ample parking and room to expand; Spacious conference room
    (312) 545-8596
    We can help!
    Listing Contact
    Ryan Wojan
    Ryan Wojan
    Real Estate License ID: 6506047353
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!